Monday, October 10, 2011

OSK Research Neutral on Budget 2012

KUALA LUMPUR: OSK Research said the Budget 2012 proposals has focused on the rakyat rather than on infrastructure development.

It said on Monday, Oct 10 the Prime Minister has delivered what he has promised in terms of Budget 2012 although it views this as not exciting for the Malaysian equity market.

Efforts to assist the lower income group include one-off cash payments, the abolishment of school fees and a hike in civil servant wages.

'On the flip side, the re-imposition of income tax on shipping companies and the hike in RPGT should hit the shipping and property sectors mildly.

'Budget beneficiaries include Guinness & JTI given the lack of a sin tax hike, MBSB from the opportunity to hand out more personal loans to civil servants and education companies SEGi and Prestariang,' it said.

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